Tuesday 11th of January 2011
Falling victim to card fraud could result in people already struggling with their personal finances asking individual voluntary arrangement questions to help get them out of their predicament.
Mark Bowerman, spokesman for the UK Cards Association, said action needs to be continually taken to help prevent individuals from suffering at the hands of fraudsters.
The industry figure noted debit and credit card fraud losses dipped in the first half of last year but claimed collaboration between businesses, consumers, the police and government is required to tackle the problem.
He explained: "The fight against card fraud can only be effective with a joined-up approach."
Mr Bowerman's comments come after the KPMG Fraud Barometer found the UK fell victim to more cases of such malpractice then ever before in 2010.
Managing director of the Debt Advice Foundation David Rodger recently claimed proposed changes to credit card debt will not be enough to successfully address the issue.
By Hayley Jones
